Anthony Scaramucci, founder of SkyBridge Capital, which has several billion dollars in assets under management, predicted that digital assets will experience a “rebound year” in 2023. Saying that this will trigger a long-term Bitcoin rally, Scaramucci predicts that it will eventually move the token price somewhere between $60,000 and $120,000. Scaramucci told CNBC last week at a crypto conference in St Moritz, Switzerland:
“You take risks, but you also believe in adaptation. So if we do the adaptation right, which I believe we will, it could be a $50,000 to $100,000 asset in two or three years.”
Cryptocurrencies have been on the rise in the new year as investors expect the Fed to stop raising interest rates to contain inflation. The leading cryptocurrency Bitcoin has gained 26% this year, trading around $21,000, while the second largest cryptocurrency, Ether, has managed to rise above $1,500 with a 29% increase. However, it is also known that this rally is not important enough to compensate for the losses in 2022.
Bitcoin and Ether have lost more than 50 percent in the past year. Rising interest rates and the collapse of high-profile companies like FTX and Celsius Network also reduced demand for crypto. However, despite the decline in the market, Scaramucci continued to maintain his optimism about the sector. SkyBridge Capital CEO also announced that Brett Harrison, former Chairman of FTX US, the US arm of FTX, will invest his own money in the new cryptocurrency venture. Sharamucci, who shared his experience at the sinking cryptocurrency exchange FTX on Twitter, said to Harrison, “Brett is proud to be an investor in his new business. Continue. Don’t look back. All the best,” he replied.